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Sir Wanaj0
I thank you for this. I do not really know where to start in this country .I get offended when people say they cannot invest in companies solely owned by Nigeria but there is a lot of truth in it and there is nothing to be offended about just because they are a few good ones that you can count on your fingers. Japaul, NEM, Cileasing , Union Diagnostic to mention but a few are very good businesses run by solely by bad Nigerian Managers They make profit for themselves to the detriment of the ordinary shareholders
As it is these are issues we should all be taking seriously as long as you are in the market. It shouldnt be a case of "wetin concern me" because you do not have shares in the company. Tommorow it may be the turn of your company. If other companies see that companies get away with stuff like this, they will be tempted to do it but once they are serious repercussions , it will deter others from following .
I have done my best to report all the market infarctions to NSE and I have reported this already .
They will be fall outs from previous incidents I have reported . sometimes some of these things take time
If nothing serious is done to curb the attitudes of these companies it will be very difficult to attract investors to invest in the NSE .
If you invest in the NSE then go to the NSE and SEC on twitter and lay your complaints . Believe me some of the complaints have yielded some positive actions.
The search light is going to be on Centurion registrars soon. They are officially the worst as of now.
Good luck to every one

fellow smnites, pls let us all join hands and surport nse proposal of 1k per value. Some idiotic firms will be forced to sit up or loose out. Pls do nt fold ur hands, contribute to a positive change which ever way u can. Dnt allow these companies to continue to take us for granted. Say no to: under reporting,over inflated opex, delays and foot dragging in reportin, questionable deeps and losses,imparement e.t.c. These are just conduit pipes to siphon money.

fellow smnites, pls let us all join hands and surport nse proposal of 1k per value. Some idiotic firms will be forced to sit up or loose out. Pls do nt fold ur hands, contribute to a positive change which ever way u can. Dnt allow these companies to continue to take us for granted. Say no to: under reporting,over inflated opex, delays and foot dragging in reportin, questionable deeps and losses,imparement e.t.c. These are just conduit pipes to siphon money.

Oga Bivins1, many thanks for your proactive actions. Please ensure you keep us updated on actions to take moving forward on this issue.

I wanted to file a complaint with the SEC against NEM for the garbage they brought out in their Q3 2014 financials. On the SEC site, you have to pick the class the company you are complaining against belongs to e.g. stockbroker, registrar etc. There is no class for an ordinary company whose stock is traded on the stock exchange, yet these are significant operators in the capital market. I think the appropriate body to look into the accuracy or otherwise of the quarterly financials published by companies is the SEC and the only word for the quarterlies published by NEM is garbage and the inaccuracies are so glaring even in an abridged statement. For me, this is also an indictment on both SEC and NSE if a company can publish such a glaringly defective quarterlies and no one from either body questions the company.

Oga Bivins, thanks for the struggle against the reconstruction. Honestly, I do not see any reason for that intention except maybe they wanted to exploit investors. Thank God shareholders kicked against the reconstruction and the intention is cancelled. Lets see how the company moves from here.

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“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes
"The one absolute requirement of a money manager is emotional maturity. If you don’t know who you are, the stock market is an expensive place to find out." - Adam Smith